A. When an assessment is due and collectable, the owner of the parcel of land subject to the assessment may apply for payment in 20 semiannual installments, to include interest on the unpaid balance, in accordance with ORS 223.210 to 223.215 and city ordinances. The application shall provide that the owner agrees to pay an additional specified amount of five percent for administration costs. The application shall provide that the owner agrees to pay interest at the rate of eight percent per annum on the unpaid balance until the bonds are sold, if ever that be, and thereafter the rate shall be the net effective interest rate on the bond issue rounded up to the next one-tenth of one percent. The application shall also provide that the owner agrees to pay a billing charge to be added to each installment. The billing charge shall be a prorated share of the actual cost of billing and keeping records of installment payment accounts. The amount of the billing charge shall be determined from time to time by the city administrator.

B. The city administrator shall provide application forms for installment payments which shall include a waiver of all rights to contest the validity of the lien except for the correction of computational errors. The applicant shall pay an administration fee in cash at the time of application in the amount of three percent of the balance due or $25.00, whichever is greater.

C. An applicant for installment payments shall have the burden of demonstrating the applicant’s authority to assent to the imposition of a lien on the parcel and that the interest of the applicant is adequate to secure payment of the lien.

D. An applicant for installment payments shall agree to pay a late penalty equal to $25.00 in the event any payment is not received within 10 days of the semiannual due date.

E. Upon acceptance of the application, the lien shall be entered in the lien docket. From that time the city shall have a first lien upon the described parcel for the amount of the assessment charge, together with interest on the unpaid balance at the rate established herein. The lien shall be enforceable in the manner provided in ORS Chapter 223. [Ord. 897 § 15A, 2015.]